synergy in business

Synergy in business occurs when the combined efforts of a team or partnership produce a greater outcome than the sum of individual efforts. It means that working together enhances efficiency, creativity, and innovation, leading to improved results. For example, two companies merging might share resources and expertise, resulting in better products or services than they could achieve alone. Essentially, synergy is about collaboration creating added value, where the collective strength surpasses individual capabilities, benefiting all parties involved.